One firm reveals its secrets
“Culture is one of the biggest drivers of employee turnover. We have found that employees who are happy and engaged with their teams and who enjoy the culture tend to stay over salary,” said Melissa Koehler, senior vice president of human resources at Firstsource, the parent company of Top Mortgage Employer 2022 Sourcepoint.
Whether that be the collaborative environment, opportunities to learn, flexible work hours or close work relationships, culture is more than just a buzzword for Sourcepoint. Koehler discussed the value of corporate culture and how it drives Sourcepoint company’s success in an exclusive interview with Mortgage Professional America.
“A shortage of talent globally has led to fierce competition in the market with companies offering staggering increases for new offers,” she said. “In addition, we’ve seen how the work-from-home (WFH) environment has weakened the connection between the employee and employer and requires a different set of tools and skillsets to foster team collaboration and comradery. Without that strong connection to their employer, employees are more likely to leave for something that appears to be more attractive.
“Our culture is driven by our values. People are our main asset. To that end, we ensure that our work is engaging, our culture is empowering, and the learning opportunities are enriching.”
But in line with recent market changes and economic uncertainty, Koehler expects the lull in hiring demand to continue for some time in the mortgage industry.
“Only critical roles will be staffed,” Koehler said. “In the near future, we see a continued consolidation of the market with limited new openings and companies taking the opportunity to review their tools, platforms, and processes for maximum efficiency.
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“We have provided career assistance through resume-writing and interviewing courses, provided information on unemployment benefits and worker assistance programs, and always ensure that they know our HR team is available to assist them as they get back on their feet. Just as important is ensuring that your employees who have survived the layoffs feel secure and motivated, going above and beyond in one-on-one and group connects is key to doing this, and continuous communication that is candid, transparent and motivating can help survivors move through the grief that comes with any major layoff.”
